Forex Technical Analysis & Forecast 20.01.2021

20.01.2021

EURUSD, “Euro vs US Dollar”

EURUSD has completed the ascending wave at 1.2147. Today, the pair may correct to reach 1.2100 and then resume growing with the short-term target at 1.2230.

EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD continues trading upwards. Possibly, the pair may reach 1.3656 and then start a new correction towards 1.3600. After that, the instrument may start another growth with the target at 1.3683.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has finished the descending wave at 73.65; right now, it is forming another consolidation range above this level. Possibly, today the pair may break this range to the downside and reach 73.00. Later, the market may break this level as well and then continue moving within the downtrend with the target at 72.20.

USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has finished the descending wave at 103.76. Today, the pair may consolidate around this level. After that, the instrument may break the range to the downside and continue trading downwards with the target at 103.44. Later, the market may form one more ascending structure to reach 104.60.

USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is forming a new descending structure towards 0.8858 and may later start another correction to reach 0.8890, thus forming a new consolidation range between these two levels. After that, the instrument may break the range to the downside and resume trading downwards with the target at 0.8844.

USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is growing towards 0.7742 and may later fall to reach 0.7696, thus forming a new consolidation range between these two levels. If the price breaks this range to the downside, the market may form a new descending structure towards 0.7590; if to the upside – resume trading upwards with the target at 0.7780.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent has broken 55.25 to the upside. Possibly, the asset may reach 56.22 and then start a new correction towards 55.30. After that, the instrument may continue trading upwards with the short-term target at 57.50.

BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Gold is still growing towards 1863.50 and may later fall to reach 1834.00, thus forming a new consolidation range between these two levels. If the price breaks this range to the downside, the market may resume trading downwards with the target at 1803.00.

GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is falling towards 34600.00. Later, the market may form one more ascending structure to reach 36700.00 and then resume falling with the target at 31700.00.

BITCOIN
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

After completing the ascending wave at 3806.1, the S&P index is forming a new consolidation range around this level. After that, the instrument may break the range to the downside and resume trading downwards to break 3778.5. Later, the market may continue falling with the target at 3737.2.

S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Attention!

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.